TDO II supports Alvarez & Marsal advised administration with fresh capital
London, 1 November 2020 - Triton Debt Opportunities II ("TDO II" or “the Fund”) is pleased to announce that it has provided financing on an Alvarez & Marsal advised administration. The loan is secured by the administration’s stake in Boston IVF, a Massachusetts-based fertility clinic. Alvarez & Marsal were the debt advisers. Following a competitive process, the financing was provided by the newly raised fund Triton Debt Opportunities II which recently closed at EUR 744m. The A&M deal team included Tim Metzgen, Steve Green and Ana Martins. The Triton deal team included Amyn Pesnani, Chrysanth Herr and Emeric Fatih.
“We are pleased to be supporting Alvarez and Marsal on a high quality asset. The administrators will use the funds to help it sell Boston IVF to realize a good recovery for all creditors of the estate, as well as investigate what led to the collapse of NMC Healthcare plc.”, said Amyn Pesnani, Head of TDO. “In a complex transaction not least given the administration, Triton were able to provide the flexibility required with credit approval reached over a short timetable. Triton was able to understand the credit quickly allowing them to deliver the most appropriate and effective financing solution”, said Tim Metzgen, Head of Debt Advisory.
About Boston IVF
Boston IVF was founded in 1986 and has a long track record in the IVF market helping parents with the births of more than 90,000 babies. The company operates a network of 29 sites mainly in the New England Area, New York, Indiana and Arizona.
Since its establishment in 1997, Triton has sponsored ten funds, focusing on businesses in the industrial, business services, consumer and health sectors. The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Europe. Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 45 companies currently in Triton's portfolio have combined sales of around €18,2 billion and around 100,800 employees.
For further information: www.triton-partners.com